Knowledge Transfer Partnership: SMD and Bournemouth University
This source preferred by Martyn Polkinghorne
Authors: Polkinghorne, M.
Journal: The Partner
Changes in the economy have forced many businesses to think differently. Sectors previously considered to be safe are now seeing business failures at an all time high. Those businesses that survive are often those with a unique offering that customers cannot avoid/ignore, or those that evolve their business models to ensure that they remain competitive and financially viable. The good news is that once the economy recovers, the surviving businesses will not only still be in business, but will also be best placed for rapid development and growth.
Every business needs to appreciate the value of its organisational knowledge (often explicit knowledge in the form of processes, systems and culture) as this forms a critical element of the survival process. The personal knowledge of company staff (including tacit knowledge based upon experience and understanding) is also essential. Where a business identifies a gap in personal knowledge that prevents it from moving its organisation knowledge forward, it needs to acquire new knowledge from an external source.
Consultancy and interim management are two widely accepted solutions to help a business overcome such barriers. The problem with both is that a business only has access to the solution for as long as they continue to pay a premium price. What businesses really need is a longer-term solution that will allow them to move the business forward today, and to manage, manipulate and modify the solution developed tomorrow to meet unexpected changes in business need based upon internal and external drivers. What businesses therefore need is knowledge transfer to enable them to control their own destiny.